Enjoy a low interest rate and quick approval with a car loan from RACV
The Royal Automobile Club of Victoria, RACV, has been providing advice and support for cars throughout Australia's modern history.
Combine this experience with a loan that has a competitive set of features and rates and you'll get a product which could see you in the car you want without having to pay hefty fees or a higher than normal interest rate.
This loan is secured, which means it has a lower interest rate and allows you to use your car as security.
|Product Name||RACV Car Loans|
|Interest Rate (p.a.)||From 6.5% (fixed)|
|Comparison Rate (p.a.)||7.02%|
|Interest Rate Type||Fixed|
|Minimum Loan Term||1 year|
|Maximum Loan Term||7 years|
|Min Loan Amount||$15,000|
|Monthly Service Fee||$0|
- $0 ongoing fee per month
- Extended warranty for your vehicle
- Fast approval for your loan application
- Higher than average minimum borrowing amount
Features and benefits
The RACV car loan offers a host of advantages which are designed to help you better manage your loan and protect your car.
- There are no ongoing fees. The borrower of the RACV car loan does not have to pay any ongoing fee, which is in contrast to many car loans in the market at the moment. This leaves more money in your pocket, which can be used to put towards the loan amount itself or on other important expenses.
- Loan approval in up to five hours. RACV can grant you approval in five hours. Remember approval will depend on RACV's lending criteria, which will take into account factors such as your income, debts, assets and credit file.
- Flexible repayment options. You can make payments using direct debit, BPAY, cheque or in person at an RACV shop or Australia Post outlet.
- Optional features. RACV also offer a range of optional extras that you can consider taking on with your loan. These include RACV Comprehensive Car Insurance, which you can save on, RACV warranty, credit protection and Autosure protection.
What are the loan costs?
There are no ongoing fees with this loan, but there is an establishment fee of $360.
Looking to apply?
If you'd like to apply for the RACV Car Loan, you can click "Go to Site" to get your application started. First, you need to make sure you meet the eligibility criteria outlined below:
- Over the age of 18
- Working full-time
- An Australian citizen or permanent resident
- Be looking to borrow more than $15,000
- Want to buy a car less than 10 years old
Make sure you have your personal and financial details on hand before you start the application. Once you send in your online form, an RACV consultants will get in touch with you by the next day. After approval, RACV Finance will contact you to discuss how your loan would be settled. In most cases, the loan amount would be provided to you within 24 hours.